When it comes to choosing flooring for your investment property there are a few things that an owner should consider: durability, cost effectiveness, and low maintenance. As an investment property owner, you always want to keep your potential tenants in mind. Current or future tenants may have kids, pets (if allowed), or just poor cleaning habits. As an owner, you will want everything to be as easy and maintenance-free as possible for yourself and your tenants. Choosing the right floor for your investment property can be a little bit of work, but finding a flooring store that is knowledgeable about the products they sell can be a huge advantage. The goal is to provide a floor that is durable enough for short- or long-term leases.
There are several options for flooring, but there are only a select few that will meet most or all of the qualifications for an investment property. The most commonly suggested flooring for tenant properties are carpet, vinyl plank and ceramic tile.
Carpet is always the least expensive option for investment properties but over time it can become the most costly and difficult to maintain. Most carpet, in a tenant situation, will have to be replaced every six months to a year due to poor maintenance practices.
An option that is one of the most cost effective over time is vinyl plank. Vinyl plank, whether floating or glue down, is one of the most durable and one of the easiest to maintain in an investment property. It may be more expensive as an up-front expense, but will have a longer wear life than carpet. Vinyl plank is also easier and more cost effective to repair/replace than ceramic tile.
Ceramic tile is one of the most durable and maintenance free products that can be installed. As an investment property owner, this will be the most expensive flooring option to install but, if done correctly, can last a lifetime. It can be repaired but it will be more expensive than repairing vinyl plank.
Maintenance and care should be one of your top priorities with investment property flooring. Carpet should be regularly vacuumed and steam cleaned once a year, but can be more difficult if the tenant is still in residence. Vinyl plank and ceramic tile are easily maintained by sweeping, vacuuming and damp mopping. The best way to maintain your investment is to provide your tenants with proper cleaning products and instructions on how to clean the floors that are installed. Your budget will always determine the direction of your purchase but your selection will determine the longevity of your flooring.